Business
Mobix Labs Announces Mid-Quarter Business Update
Mobix Labs projects greater than 250% revenue growth over prior quarter Expanding customer base and successful implementation of its merger and acquisition
About this update from Mobix Labs, Inc.
[{"type":"text","content":"\nMobix Labs projects greater than 250% revenue growth over prior quarter\n\n\nExpanding customer base and successful implementation of its merger and acquisition strategy\n\n\n IRVINE, Calif.--(BUSINESS WIRE)--\nMobix Labs, Inc. (Nasdaq: MOBX), a fabless semiconductor company developing disruptive next-generation connectivity solutions that span from wired to wireless solutions, including 5G, today announced a mid-quarter business update.\n\n\nKeyvan Samini, President and CFO of Mobix Labs, commented: “Mobix Labs anticipates a significant increase in revenue, projecting 250% growth from the previous quarter. This increase can be attributed to several factors, including an expanding customer base as a result of our recent acquisition of EMI Solutions. EMI has already demonstrated promising results, contributing substantially to our anticipated revenue growth. We anticipate surpassing the $1 million mark in revenue this quarter, a testament to the immediate traction gained from EMI's offerings, and successful execution of our merger and acquisition strategy.”\n\n\n“The demand for Mobix Labs’ filtered connectors, flex assemblies, and filter inserts remains robust, particularly driven by key programs such as the Tomahawk and Javelin Missile Systems, as well as the Abrams Tank Army contract,” said Fabian Battaglia, CEO of Mobix Labs. “We are extremely satisfied with the Company's rapid revenue growth, achieved just three months after our initial public offering, and we are dedicated to increasing revenue and enhancing cash flow through both organic growth initiatives and a robust merger and acquisition strategy.”\n\n\nForward-Looking Statements\n\n\nThis press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about projected revenue for the quarter, demand for Mobix Labs’ products, increasing revenue and enhancing cash flow, and robust merger and acquisition strategy, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. As a result of a number of known and unknown risks and uncertain...